Stock Traders Buy High Volume of Put Options on Xerox (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRXGet Rating) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 1,689 put options on the company. This represents an increase of approximately 1,369% compared to the average volume of 115 put options.

Insider Buying and Selling

In other Xerox news, SVP Naresh Shanker sold 10,700 shares of Xerox stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $17.16, for a total value of $183,612.00. Following the transaction, the senior vice president now directly owns 11,094 shares in the company, valued at approximately $190,373.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Xerox

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in Xerox by 1,882.5% during the fourth quarter. Parallel Advisors LLC now owns 1,130 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,073 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Xerox by 722.8% during the fourth quarter. Signaturefd LLC now owns 2,131 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 1,872 shares during the last quarter. Quent Capital LLC bought a new position in shares of Xerox during the fourth quarter valued at approximately $52,000. Fifth Third Bancorp grew its holdings in shares of Xerox by 100.1% during the fourth quarter. Fifth Third Bancorp now owns 3,134 shares of the information technology services provider’s stock valued at $71,000 after purchasing an additional 1,568 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of Xerox during the fourth quarter valued at approximately $109,000. Institutional investors and hedge funds own 87.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on XRX shares. StockNews.com started coverage on Xerox in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. dropped their price target on Xerox from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. Citigroup dropped their price target on Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, April 22nd. Morgan Stanley reaffirmed a “maintains” rating on shares of Xerox in a research report on Wednesday. Finally, TheStreet downgraded Xerox from a “c-” rating to a “d+” rating in a research report on Thursday, July 7th. Two analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $14.00.

Xerox Stock Down 0.3 %

Shares of XRX traded down $0.05 during midday trading on Thursday, reaching $16.67. 41,897 shares of the company were exchanged, compared to its average volume of 2,510,311. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. Xerox has a 1-year low of $13.24 and a 1-year high of $24.99. The stock has a 50-day moving average price of $16.31 and a 200-day moving average price of $18.66. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -4.89 and a beta of 1.70.

Xerox (NYSE:XRXGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information technology services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Xerox had a positive return on equity of 4.85% and a negative net margin of 7.86%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. Research analysts expect that Xerox will post 1.08 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Thursday, September 29th. Xerox’s dividend payout ratio (DPR) is -29.33%.

About Xerox

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

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